Bottom Right Default
State Name: New Jersey
State Name underscore: New_Jersey
State Name dash: New-Jersey
State Name lower underscore: new_jersey
State Name lower dash: new-jersey
State Name lower: new jersey
State Abbreviation: NJ
State Abbreviation Lower: nj

MND NewsWire features plain and simple interpretations of industry related data and events written in a manner that maintains the interest of random readers while still catering to the perspective of a housing market professional.

Consumers planning to jump into the real estate market this spring will need to reassess pricing, whether they are looking to buy or sell.

The spring real estate market has been off to a slow start, but experts foresee plenty of pent-up demand that could heat up the market as warmer weather arrives. Earlier this month, a report from Zillow.com found that 10 percent of U.S. renters say they would like to buy a home within the next year.

In February, asking prices were 10.4 percent higher than a year earlier, according to Trulia.com. Even without a bidding war in play, buyers have less leverage to negotiate lower prices. That, combined with stricter borrowing limits from lenders, could mean buyers have a smaller budget than anticipated, said Michael Corbett, a real estate expert with Trulia.com. Before starting a house hunt, secure pre-approval from a lender. "Otherwise, you'll end up looking at houses that aren't in your price range, and putting in offers that won't fly with the bank," said Corbett, author of "Before You Buy."

Founded in 2004, Mortgage News Daily has established itself as a leader in housing news, analysis and data. Our innovative social media platform combines industry leading content and data with an active community of industry professionals, to accomplish our primary goal - keeping our readers informed.